January Newsletter - New Year brings New Changes

January 2012 Newsletter Issue No. 1018

Home Courses Bonds Notary Supplies Networking IRS Guidelines Free IRS Tax Training

In This Issue

Important Updates for Tax Preparer

Notary Public Tidbits

CPA Tidbits

Referral Rewards!

Tax Preparer Tidbits

and two
We

Greetings!

Happy New Year. Thank you to all our customers for another great year!

For our Tax Preparers. The IRS more updates to share with you. One being the PTIN system will be unavailable for New Applications from December 26th until January 9th. Preparers are still able to renew existing PTINs during this window. For more tax preparer updates see below.

Just a reminder, the IRS continuing education requirement starts January 1st, 2012. Platinum will be offering the IRS continuing education courses early this year. We will be combining the IRS and CTEC's continuing education requirement into one course as well as the IRS and Oregon's requirement.

Platinum is now offering the Oregon 80-hour Qualifying Course. If anyone is interested in preparing tax returns for compensation in Oregon, you are required to take this course, prior to taking their state exam.

In addition, there are three customers to whom our new EA Exam review course will be offered at no charge in exchange for feedback of the course. They are Ron Chester, Audi Constance, and Robb Pryor. We will be contacting them with more information.

Lastly, have you ever thought of adding a tax school to your tax preparation service? Platinum is now offering two ways for you to do so. The first one is if you have a website you can add a link to your website to Platinum's website and you can become an affiliate of Platinums and receive a referral fee for each course purchased. The second way, if you have multiple offices with at least a staff of 100, we can design a tax school website using your existing website's template. If you are interested, please contact me directly.

Sincerely,
Lauren Zago
Platinum Professional Services

Latest News

Important Updates for Tax Preparers

Platinum Professional Services

Starting November 1, 2012, CTEC's late fee will increase from $15 to $55. Additionally, CRTPs who do not renew their registration by January 15, 2013, and each year thereafter, will have to re-take the 60-hour qualifying education course, pass a competency exam from an approved education provider and register as a new CRTP. The new policy will shorten the grace period from 12 months to 10 weeks.

CTEC's online registration will be required beginning August 1, 2012 for the 2012/2013 registration cycle year. Mail-in applications will be accepted only on a case-by-case basis.

Tax Preparer Tidbits

Average Itemized Tax Return Fee Totaled $233.

The National Society of Accountants has found that the cost of preparing an itemized tax return averaged $233 across the country, but there was still variation in different parts of the country.

A biennial survey of nearly 8,000 tax preparers by the NSA found that the average fee for preparing an itemized Form 1040 with a Schedule A and a state tax return cost taxpayers only $233 this year. Rates for non-itemized returns are also low - the average cost to prepare a Form 1040 and state return without itemized deductions is only $128.

Both average fees were nearly the same this year as they were two years ago ($229 and $129 respectively), indicating that tax practitioners and accountants understand the economic challenges that Americans face.

Latest News

Notary Public

News

Question of the Month:

Your boss is overseas and appears before you via a video teleconference. You are in California. You see your boss sign the document on the video. He/she faxes it to you. He/she shows you his/her ID and scans it to your computer. Can you notarize this document?

Answer: No, California Law required a personal appearance, that means that the individual can physically hand you their ID.

CPA Tidbits

AICPA and Brazilians Agree on CPA Exam Abroad.

The American Institute of CPAs and two Brazilian accounting organizations have signed a two-year agreement paving the way for the CPA Exam to be offered in South America next year.

The AICPA signed a memorandum of understanding this week with the Conselho Federal de Contabilidade, or Federal Accounting Council, and the Fundação Brasileira de Contabilidade, or Brazilian Accounting Foundation. The agreement will allow them to begin discussions on several initiatives, including the creation of working groups to launch and administer the CPA Exam in Brazil and implement a Portuguese-language IFRS training program in Brazil.

Notary Services

Why not add Notary Services and create a new source of income for yourself? Our online Notary Course is available for only $29.95. Best of all, your Proof of Completion is emailed to you within minutes.

Referral Rewards

Platinum Rewards Referrals!

Starting October 1st through December 31st, customers are encouraged to refer their friends, coworkers, and employees to Platinum. The top three customers with the highest amount of referrals will be rewarded in turn. For every customer they refer, they will receive a course of their choice for free. So how do you let Platinum know you referred someone? It's easy, just send us a quick email with your full name and their name.

* The top three customers with the highest amount of referrals will each receive a free course of their choice for every customer they refer. This referral promotion ends December 31st. The free courses they receive can be used during any year. Referral promotion limited to five free courses. Excludes group discounts.

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